|05 December, 2019

Nakheel to unveil prime Dubai properties at China expo

The Dubai developer is looking to expand its Far East / South-east Asia investor portfolio

Palm Tower hotel and residential complex

Palm Tower hotel and residential complex

Nakheel handout via Thomson Reuters Zawya

Master developer Nakheel is heading to China to showcase the immense opportunities being provided by Dubai’s real estate sector at the Luxury Property Show (LPS) which kicks off on December 6 in Shanghai, China and runs for the next two days.

The Dubai developer is looking to expand its Far East / South-east Asia investor portfolio, which already boasts over 1,100 customers who have bought 1,500 Nakheel properties, collectively worth Dh1.5 billion ($408 million).

On display will be a diverse range of properties – from luxury apartments on the world-famous Palm Jumeirah to stylish flats at Dubai’s biggest Chinese community – with annual rental yields that can reach up to seven per cent, said the statement from Nakheel.

More than 200,000 Chinese people currently live in Dubai, with 50,000 residing at International City, the biggest Chinese community in the emirate.

In addition, 1,700 Chinese traders have invested in Dragon Mart, the world’s largest Chinese trading hub outside China, which welcomes 40 million visitors a year, it stated.

On its participation, Chief Commercial Officer Aqil Kazim said: "Dubai is an increasingly popular city for investment from this part of the world. Two years ago, we had 600 investors from this region; today the figure has almost doubled to more than 1,100, with Chinese people accounting for 90 per cent of customers."

Taking centre stage at the Nakheel stand in Shanghai is a scale model of the world-famous Palm Jumeirah, Nakheel’s flagship master development, which is home to 78,000 residents and a host of residential, hospitality and retail projects.

Among the diverse range of projects on The Palm is The Palm Tower, Nakheel’s 52-storey, 240-m tall hotel and residential building at the heart of the island, where luxury apartments are on sale from Dh1.8 million.

The Palm Tower consists of a 289-room St. Regis hotel and 432 residences, topped off by a rooftop pool, restaurant and viewing deck offering panoramic views of the island and the Dubai skyline. The tower is connected to Nakheel Mall, which opened last month.

“LPS is the perfect platform from which to encourage more investors from this region to become part of Dubai’s ever-growing real estate sector,” stated Kazim.

Also on show in Shanghai is Dragon Towers, a twin-building residential complex at Dragon City, with 1,142 stylish one- and two-bedroom apartments and onsite health, fitness and retail facilities.

The starting prices for these apartments are Dh477,800 onwards, said the Dubai developer.

Located on the edge of International City, home to Dubai’s biggest Chinese community, Dragon City also comprises the world-famous Dragon Mart retail and trading hub and two hotels, it added.-TradeArabia News Service

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